Saudi SIEC exits $1.06mln stake in Warehousing and Logistics Services

The transaction’s material effect will be announced at the end of 2020

  

Riyadh – The Saudi Industrial Export Company (SIEC) has sold its 3.846% stake in Warehousing and Logistics Services Co for SAR 4 million, or SAR 4 per share.

The investment cost in the logistic service provider amounts to SAR 11 million. However, it stood at SAR 6.12 million during the second quarter (Q2) of 2020, according to a bourse disclosure on Sunday.

The transaction’s material effect will be announced at the end of the year.

In 2008, SIEC announced investing in Warehousing and Logistics Services Co, a closed joint-stock company.

Source: Mubasher

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